Suntech withdraws from EU solar PV module price undertaking

Suntech decided to withdraw from EU's solar PV price undertaking
Suntech decided to withdraw from EU's solar PV price undertaking

Solar photovoltaic (PV) module manufacturer Wuxi Suntech Power Co. Ltd. (Wuxi, China) announced that it has voluntarily withdrawn from the European Union's (EU) price undertaking agreement and that the EU accepted Suntech's decision on October 11th, 2016.

The main reason for the voluntary withdrawal was that EU customers did not agree with the MIP for Chinese PV modules as the global/EU average selling prices continuously declined and the MIP was not adjusted to be consistent with this declining trend, Suntech notes.

Suntech had given notice of its intention to withdraw on August 1st, 2016. On October 11th, 2016 the EU accepted Suntech's decision and so informed the Company and the China Chamber of Commerce for Import & Export (CCCME).

 

Executive President He Shuangquan: The EU's Undertaking is not consistent with our company's business strategy

“We have always complied with the EU's MIP agreement and were hoping that this duty would expire after December 2015, but this did not happen,” comments He Shuangquan, Executive President of Wuxi Suntech Power Co. Ltd.

“So we decided to withdraw from EU's undertaking since it is not consistent with our company's business strategy.”

 

2016-10-18 | Courtesy: Suntech | solarserver.com © Heindl Server GmbH

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